One possible solution to the sovereign debt crisis is the European Redemption Pact (ERP) proposed by the German Council of Economic Experts. The ERP provides sustainable financing conditions for participating sovereigns to facilitate bringing public debt ratios below the reference value of 60%...

A number of tools have been suggested for solving the European sovereign debt crisis, in particular the options of leveraging the EFSF/ESM, introducing Eurobonds and a European Troubled Asset Relief Programme (Euro-TARP). However, it is unclear how these instruments will work, given jittery...

The fiscal governance of the European Economic and Monetary Union (EMU) was the result of a political compromise. This led to an imbalanced and unsustainable framework, which contributed to the outbreak of the Eurozone debt crisis. During the crisis, European leaders embarked on a reform effort...

Auf die Finanz- und Wirtschaftskrise folgt eine Krise der Staatsfinanzen. Einige Staaten der europäischen Währungsunion drohen den gesamten Euroraum in Schwierigkeiten zu bringen. Um solche Probleme zukünftig zu vermeiden, müssen die nationalen Finanzpolitiken durch strikte Anwendung des...